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Article: China : China to Offer Africa $10 Billion in Preferred Loans.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
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Byline: manish03
China will offer Africa $10 billion in preferential loans over the next three years to develop infrastructure and social programs, and will write off the debt of some of the poorest nations, Chinese Premier Wen Jiabao said.
China also will construct 100 new clean-energy projects on the continent and gradually lower customs duties on 95 percent of products from African states that have diplomatic ties with China, Wen said today in an address to delegates at the Forum on China Africa Cooperation conference in Sharm el-Sheikh, Egypt.
China has been making a drive to invest in minerals and energy in Africa to feed its growing ...